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Lot Essay
With Rolex Garantie et Attestation de Chronomètre Officiel dated January of 2001 and stamped Mercurio, Panama, and leather Rolex cardholder. The present watch is No. 65 of 75 Rolex Submariners in 18k gold and stainless steel made in a limited edition to commemorate the reversion of the Panama Canal.
The Panama Canal
Throughout the 1800's, the need arose for a way to ship goods quickly and cheaply between the Atlantic and Pacific coasts. In the mid-19th century, a team from the U.S. surveyed different areas that were a possibility for a canal, including Panama, which was then part of the Republic of Colombia. Panama was deemed too expensive and in 1850, the United States and Great Britain negotiated the Clayton-Bulwer Treaty for a proposed canal through the Central American Republic of Nicaragua. However, this treaty never went beyond planning stages.
In the late 1870's, the French government approved a plan to build a canal in Panama, led by Ferdinand de Lesseps, the builder of the Suez Canal in Egypt. Excavation began in 1880, but malaria, yellow fever, and other tropical diseases finally ended the French attempt.
In 1901, the Pauncefote Treaty ended the earlier Clayton-Bulwer Treaty and licensed the United States to build and manage its own canal. On June 19, 1902, the U.S. Senate voted in favor of building the canal through Panama, and Secretary of State John Hay signed a treaty with Colombian Foreign Minister Tomás Herrán to build the canal. However, the financial terms were not acceptable to Colombia's congress, and they rejected the offer.
President Roosevelt dispatched U.S. warships to Panama City in support of Panamanian independence. Panama was able to declare independence on November 3rd, 1903. The Hay-Bunau-Varilla Treaty of 1903 provided the United States with a 10-mile wide strip of land for the canal, a one-time $10 million payment to Panama, and annual annuity of $250,000. The Panama Canal was completed in 1914.
In 1999, the U.S. handed over sovereignty of the Panama Canal to Panama. To commemorate the transfer of control, a request was made to Rolex by the retailer Mercurio Joyero in Panama to create a Submariner with a personalized logo.
A limited series of Rolex Submariner models were produced, 75 examples of the reference 16613 in stainless steel and gold and 75 examples of the reference 16610 in stainless steel. The models featured the logo of the Panama Canal on the dial, and the limited edition number was engraved on the case back.
The Panama Canal
Throughout the 1800's, the need arose for a way to ship goods quickly and cheaply between the Atlantic and Pacific coasts. In the mid-19th century, a team from the U.S. surveyed different areas that were a possibility for a canal, including Panama, which was then part of the Republic of Colombia. Panama was deemed too expensive and in 1850, the United States and Great Britain negotiated the Clayton-Bulwer Treaty for a proposed canal through the Central American Republic of Nicaragua. However, this treaty never went beyond planning stages.
In the late 1870's, the French government approved a plan to build a canal in Panama, led by Ferdinand de Lesseps, the builder of the Suez Canal in Egypt. Excavation began in 1880, but malaria, yellow fever, and other tropical diseases finally ended the French attempt.
In 1901, the Pauncefote Treaty ended the earlier Clayton-Bulwer Treaty and licensed the United States to build and manage its own canal. On June 19, 1902, the U.S. Senate voted in favor of building the canal through Panama, and Secretary of State John Hay signed a treaty with Colombian Foreign Minister Tomás Herrán to build the canal. However, the financial terms were not acceptable to Colombia's congress, and they rejected the offer.
President Roosevelt dispatched U.S. warships to Panama City in support of Panamanian independence. Panama was able to declare independence on November 3rd, 1903. The Hay-Bunau-Varilla Treaty of 1903 provided the United States with a 10-mile wide strip of land for the canal, a one-time $10 million payment to Panama, and annual annuity of $250,000. The Panama Canal was completed in 1914.
In 1999, the U.S. handed over sovereignty of the Panama Canal to Panama. To commemorate the transfer of control, a request was made to Rolex by the retailer Mercurio Joyero in Panama to create a Submariner with a personalized logo.
A limited series of Rolex Submariner models were produced, 75 examples of the reference 16613 in stainless steel and gold and 75 examples of the reference 16610 in stainless steel. The models featured the logo of the Panama Canal on the dial, and the limited edition number was engraved on the case back.